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Lukoil and Eni awarded a new E&P license in the Cuenca Salina Basin in Mexico’s offshore

Eni and Lukoil have been awarded rights to Block 28.

Mexico City, 29 March - Neftegaz.RU. Eni and Lukoil have been awarded rights to Block 28, located in the medium-deep waters of the Cuenca Salina Basin, offshore Mexico.


Eni will be the Operator of the license with a 75% stake in the joint venture, while Lukoil has the remaining 25%. Financial details of the contract, which is subject to regulatory approval, weren't disclosed.


This new award comes as the outcome of the 1st international competitive bid round called under «Ronda 3» by the National Hydrocarbons Commission, which offered blocks located in water depths between 20 and 500m. The contract award is subject to approval from the authorities.


In the Cuenca Salina Basin Eni holds a 100% stake in Area 1, where it has discovered approximately 2 billion barrels of hydrocarbon in place and has already submitted to the approval of the local authorities the Development Plan (PoD) to exploit the discovered resources. Eni also is Operator of 4 other exploration and production blocks in the Cuenca Salina Basin.

Source : Neftegaz.RU